Reflecting on 2024: A Year of Resilience and Growth in the Housing Market

As we kick off 2025, it’s the perfect time to reflect on what has been an eventful and transformative year for the housing market. After the challenges of 2023, 2024 saw the market return to growth, with house prices across the UK increasing by 1.5% on average—compared to a decline of -1.2% the year before.

Looking ahead, the housing market in 2025 looks set to build on the progress made last year. With house prices projected to rise by around 4% and transaction volumes expected to grow, both buyers and sellers have reasons to feel optimistic. While there are always hurdles to overcome, the signs of growth and stability are encouraging for all.

North Leeds Property Market in 2024: A Snapshot

Here in North Leeds, the property market remained steady, even with a slight dip in overall transactions compared to 2023. Let’s take a look at some key statistics from 2024:

? Total value of sales: ￡327,945,444

? Most transactions by street: Harrogate Road, LS17

? Total transactions (as of 15/12): 1,084

? Percentage decrease in transactions from 2023: 20%

? Highest recorded sale value (Land Registry): ￡1,975,000

? Average sale value: ￡271,511

While properties tended to stay on the market longer in 2024, the outlook remains positive. Predictions suggest it will continue to be a buyer’s market in 2025, but with house prices expected to rise, it’s also a great time for sellers to prepare their properties for maximum value.

The first quarter of 2025 is likely to see a surge in activity, driven by first-time buyers eager to beat the upcoming stamp duty threshold changes in March. This early activity often acts as a catalyst for increased market movement across all price ranges.

The Rise of the Independent Agent

2024 was a milestone year for Propertynest’s North Leeds branch. In our first year of operation, we exceeded expectations, tripling our predicted sales and earning numerous glowing 5-star reviews from happy clients.

As an independent agency, we’ve shown just how much of a difference personalised service can make in a market often dominated by volume-driven high street chains. At Propertynest, we prioritise:

? Dedicated attention: We take on fewer clients to ensure every seller and buyer gets the time and care they deserve.

? Bespoke marketing: Every property is presented to the highest standard with professional photography, videos, and strategic pricing.

? Results-driven service: We work hard to achieve the best outcomes for our clients, tailoring every aspect of the process to their unique needs.

Heading into 2025, we’re excited to continue championing independent estate agencies and delivering exceptional results for our clients.

Looking Ahead to 2025

As the market continues to evolve, 2025 presents fresh opportunities for buyers, sellers, and investors alike. Whether you’re planning to sell your home or expand your property portfolio, now is the perfect time to start preparing.

From pricing strategies to bespoke marketing plans, we’re here to help you make the most of the opportunities this year has to offer.

Thank you to all our clients who trusted us in 2024—it’s been an honour to be part of your property journey. Wishing you a prosperous and exciting year ahead, and we look forward to working with you in 2025.

Thinking about selling or buying in 2025? Let’s chat about how we can help you achieve your goals.

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